Duke Realty Corporation (DRE) Sets New 52-Week High at $29.40
Duke Realty Corporation (NYSE:DRE) shares reached a new 52-week high during trading on Monday . The stock traded as high as $29.40 and last traded at $29.41, with a volume of 1,882,978 shares traded. The stock had previously closed at $28.86.
DRE has been the subject of several recent analyst reports. BidaskClub lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Morgan Stanley upped their price target on shares of Duke Realty Corporation from $29.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, July 17th. Barclays PLC cut their price target on shares of Duke Realty Corporation from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Zacks Investment Research lowered shares of Duke Realty Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $30.00 price target on shares of Duke Realty Corporation in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.73.
The stock’s 50-day moving average price is $28.32 and its 200 day moving average price is $27.41. The company has a market cap of $10.38 billion, a price-to-earnings ratio of 7.19 and a beta of 0.94.
Duke Realty Corporation (NYSE:DRE) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $165.84 million for the quarter, compared to analysts’ expectations of $185.25 million. Duke Realty Corporation had a net margin of 166.06% and a return on equity of 8.72%. During the same quarter last year, the company earned $0.30 earnings per share. Equities research analysts expect that Duke Realty Corporation will post $3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Wednesday, August 16th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.60%. Duke Realty Corporation’s payout ratio is 18.86%.
In other news, EVP Peter D. Harrington sold 30,000 shares of Duke Realty Corporation stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $28.87, for a total value of $866,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.
Several institutional investors have recently made changes to their positions in DRE. First Personal Financial Services boosted its position in shares of Duke Realty Corporation by 117.6% in the first quarter. First Personal Financial Services now owns 3,885 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 2,100 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of Duke Realty Corporation by 9.6% in the first quarter. Toronto Dominion Bank now owns 3,881 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 341 shares during the last quarter. Bessemer Group Inc. boosted its position in shares of Duke Realty Corporation by 4,741.6% in the second quarter. Bessemer Group Inc. now owns 3,728 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 3,651 shares during the last quarter. Advisor Group Inc. boosted its position in shares of Duke Realty Corporation by 0.3% in the second quarter. Advisor Group Inc. now owns 4,257 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 12 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new position in shares of Duke Realty Corporation during the first quarter worth approximately $132,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.
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Duke Realty Corporation Company Profile
Duke Realty Corporation is a self-managed real estate investment trust (REIT). The Company and Duke Realty Limited Partnership collectively specialize in the ownership, management and development of bulk distribution (industrial) and medical office real estate. It operates through three segments, the first two of which consist of the ownership and rental of industrial and medical office real estate investments.
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